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Australian (ASX) Gold Industry Analysis

UpdatedMar 27, 2026
DataAggregated Company Financials
Companies153
  • 7D-0.4%
  • 3M-16.5%
  • 1Y47.7%
  • YTDn/a

The Gold industry has been flat over the last week, but Kingsgate Consolidated has lost 20%. The past year has been better, since the industry has gained 48% in that time. Earnings are forecast to grow by 25% annually.

Industry Valuation and Performance

Has the Australian Gold Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 28 Mar 2026AU$140.6bAU$32.2bAU$6.6b16.7x21.4x4.4x
Mon, 23 Feb 2026AU$179.3bAU$28.6bAU$5.5b25.9x32.6x6.3x
Wed, 21 Jan 2026AU$180.3bAU$26.4bAU$4.6b29.6x39.4x6.8x
Fri, 19 Dec 2025AU$158.9bAU$26.4bAU$4.6b27.5x34.7x6x
Sun, 16 Nov 2025AU$148.8bAU$26.5bAU$4.6b24.6x32.2x5.6x
Tue, 14 Oct 2025AU$145.0bAU$26.4bAU$4.6b22.8x31.6x5.5x
Thu, 11 Sep 2025AU$122.7bAU$26.8bAU$4.8b19x25.3x4.6x
Sat, 09 Aug 2025AU$103.6bAU$22.4bAU$3.2b19.7x32.5x4.6x
Mon, 07 Jul 2025AU$101.7bAU$22.4bAU$3.1b16.8x32.5x4.6x
Wed, 04 Jun 2025AU$111.8bAU$22.3bAU$3.1b21.5x36.2x5x
Fri, 02 May 2025AU$89.8bAU$22.2bAU$3.0b16.2x29.7x4.1x
Sun, 30 Mar 2025AU$87.2bAU$22.2bAU$3.0b17.4x28.9x3.9x
Tue, 25 Feb 2025AU$77.6bAU$20.7bAU$2.7b19.2x28.3x3.8x
Thu, 23 Jan 2025AU$78.9bAU$18.6bAU$1.8b20.1x43.3x4.2x
Sat, 21 Dec 2024AU$69.5bAU$18.7bAU$1.8b21.3x38.1x3.7x
Mon, 18 Nov 2024AU$67.8bAU$18.6bAU$1.8b18.4x37.5x3.7x
Wed, 16 Oct 2024AU$71.5bAU$18.4bAU$1.8b22.1x39.9x3.9x
Fri, 13 Sep 2024AU$63.7bAU$18.3bAU$1.7b19.9x38.3x3.5x
Sun, 11 Aug 2024AU$59.5bAU$16.1bAU$1.1b23.1x53.9x3.7x
Tue, 09 Jul 2024AU$57.5bAU$16.0bAU$1.1b22.4x53.6x3.6x
Thu, 06 Jun 2024AU$58.9bAU$17.1bAU$1.2b21.1x49.8x3.4x
Sat, 04 May 2024AU$56.5bAU$17.1bAU$1.2b21.1x47.4x3.3x
Mon, 01 Apr 2024AU$55.5bAU$17.2bAU$1.2b18.9x46.4x3.2x
Wed, 28 Feb 2024AU$47.6bAU$16.4bAU$958.3m18.2x49.7x2.9x
Fri, 26 Jan 2024AU$72.4bAU$22.9bAU$1.3b23.3x53.8x3.2x
Sun, 24 Dec 2023AU$76.5bAU$22.9bAU$1.3b26.6x56.9x3.3x
Tue, 21 Nov 2023AU$70.4bAU$22.9bAU$1.4b22.1x52.1x3.1x
Thu, 19 Oct 2023AU$71.0bAU$23.0bAU$1.4b23.5x52.1x3.1x
Sat, 16 Sep 2023AU$69.4bAU$22.9bAU$1.5b19.2x47.5x3x
Mon, 14 Aug 2023AU$68.6bAU$22.4bAU$444.7m18.3x154.3x3.1x
Wed, 12 Jul 2023AU$72.1bAU$22.3bAU$557.6m17x129.3x3.2x
Fri, 09 Jun 2023AU$70.4bAU$22.3bAU$576.7m17.3x122x3.2x
Sun, 07 May 2023AU$78.1bAU$22.2bAU$563.9m20x138.5x3.5x
Tue, 04 Apr 2023AU$69.2bAU$22.2bAU$556.3m15.9x124.4x3.1x
Price to Earnings Ratio

124.4x


Total Market Cap: AU$69.2bTotal Earnings: AU$556.3mTotal Revenue: AU$22.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Gold Industry Price to Earnings3Y Average 59.2x202420252026
Current Industry PE
  • Investors are pessimistic on the Australian Gold industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 21.4x which is lower than its 3-year average PE of 59.3x.
  • The industry is trading close to its 3-year average PS ratio of 4.0x.
Past Earnings Growth
  • The earnings for companies in the Gold industry have grown 127% per year over the last three years.
  • Revenues for these companies have grown 13% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Australian Gold compare with similar industries?

AU Market0.32%
Materials2.92%
Metals and Mining3.05%
Gold-0.36%
Diversified Metals and Mining4.26%
Silver3.80%
Steel3.57%
Precious Metals and Minerals2.99%
Copper1.56%
Aluminum-0.59%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PRU Perseus MiningAU$4.942.7%
+AU$175.3m		47.9%PE12.9x
WGX Westgold ResourcesAU$5.422.5%
+AU$121.8m		85.6%PE20.2x
EVN Evolution MiningAU$12.460.4%
+AU$101.6m		73.1%PE19.1x
WAF West African ResourcesAU$3.012.7%
+AU$91.6m		25.9%PE7.3x
VAU Vault MineralsAU$3.962.1%
+AU$75.0m		32.4%PE49.7x

Latest News

EVN
AU$12.46
Evolution Mining
7D
0.4%
1Y
73.1%

EVN: Higher Commodity Decks Will Likely Support Repriced Earnings Power

Analysts have lifted the fair value estimate for Evolution Mining from A$13.17 to A$13.91, reflecting higher price targets across the Street as they refresh commodity price decks and factor in updated views on gold and broader metals markets. Analyst Commentary Street research on Evolution Mining has shifted meaningfully in recent weeks as analysts refresh commodity price assumptions and update valuation models.
OBM
AU$1.12
Ora Banda Mining
7D
-5.5%
1Y
-1.3%
RRL
AU$6.26
Regis Resources
7D
1.1%
1Y
60.5%
GGP
AU$9.76
Greatland Resources
7D
-3.5%
1Y
n/a
WGX
AU$5.42
Westgold Resources
7D
2.5%
1Y
85.6%
WAF
AU$3.01
West African Resources
7D
2.7%
1Y
25.9%

WAF: Resumed Speculative Buy Coverage Will Support Future Upside Potential

Analysts have lifted their A$ price target on West African Resources, citing updated assumptions that now pair more moderate revenue growth expectations with higher projected profit margins and a slightly higher future P/E multiple following fresh Street research coverage. Analyst Commentary Recent research coverage points to a more constructive stance on West African Resources, with bullish analysts highlighting a mix of valuation support and execution potential as key reasons for lifting price targets.
CYL
AU$6.00
Catalyst Metals
7D
-8.8%
1Y
8.9%
KCN
AU$4.10
Kingsgate Consolidated
7D
-20.2%
1Y
167.1%
RSG
AU$1.26
Resolute Mining
7D
-4.6%
1Y
167.0%

RSG: Doropo Development And New Guidance Will Support Stronger Long Term Earnings

Analysts have raised the fair value estimate for Resolute Mining to A$2.10 from A$1.85, citing updated assumptions that include higher projected revenue growth, a slightly adjusted discount rate, a modestly stronger profit margin outlook, and a revised future P/E expectation. Analyst Commentary Recent valuation work on Resolute Mining sits against a broader backdrop where other covered names are seeing frequent price target changes and mixed rating views.
VAU
AU$3.96
Vault Minerals
7D
2.1%
1Y
32.4%
NST
AU$18.55
Northern Star Resources
7D
0.3%
1Y
-0.4%

NST: Higher Gold Assumptions And 2026 Output Outlook Will Support Upside Potential

Analysts now see Northern Star Resources' fair value at A$28.10, down from A$30.96. The shift reflects updated commodity price assumptions that also fed into a higher Street price target of A$35.00, supported by revised long term forecasts for gold and other key metals.
PRU
AU$4.94
Perseus Mining
7D
2.7%
1Y
47.9%

PRU: Cost Discipline And Project Execution Will Support Upside Potential

Analysts have trimmed their fair value estimate for Perseus Mining by A$0.00 to A$6.47, reflecting slightly higher discount rate assumptions and more cautious profit margin expectations after recent research turned more bearish on the shares. Analyst Commentary Bullish Takeaways Bullish analysts see the refined fair value estimate of A$6.47 as still supportive of upside potential if Perseus Mining can deliver on cost control and project execution targets.
SMI
AU$0.67
Santana Minerals
7D
-19.4%
1Y
12.7%
PDI
AU$0.69
Predictive Discovery
7D
-10.9%
1Y
75.9%
ALK
AU$1.39
Alkane Resources
7D
-9.7%
1Y
107.5%
BGL
AU$1.43
Bellevue Gold
7D
3.6%
1Y
24.9%